Fair Housing Act (FHA).

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Fair Housing Act (FHA)

Federal Consumer Financial Protection Guide
Compliance ManagementCompliance Management Systems and Compliance Risk
Consumer Leasing Act (Regulation M).
Fair Credit Reporting Act (Regulation V).
Homeowners Protection Act (PMI Cancellation Act).
Military Lending Act (MLA).
Real Estate Settlement Procedures Act (Regulation X).
Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) (Regulation G).
Servicemembers Civil Relief Act (SCRA).
Small Dollar Lending and Payday Alternative Loans.
Truth in Lending Act (Regulation Z).
Equal Credit Opportunity Act (Regulation B).
Fair Housing Act (FHA).
Home Mortgage Disclosure Act (Regulation C).
Electronic Fund Transfer Act (Regulation E).
Expedited Funds Availability Act (Regulation CC).
Truth in Savings Act (NCUA Rules & Regulations Part 707).
Children's Online Privacy Protection Act.
Privacy of Consumer Financial Information (Regulation P).
Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
Electronic Signatures in Global and National Commerce Act (E-Sign Act).

Fair Housing Act (FHAct, 42 U.S.C. § 3601 et seq.), which is executed by the Department of Housing and Urban Development's (HUD) policies (24 CFR Part 100), was enacted as Sections 800 to 820 of Title VIII of the Civil Liberty Act of 1968, as amended. FHAct makes it illegal for lenders to discriminate against anyone in making available a domestic real estate-related transaction or to discourage a candidate from sending a loan application based upon race, color, national origin, religious beliefs, sex, familial status, or handicap.

In specific, FHAct applies to financing or buying a mortgage loan secured by domestic realty. Specifically, a lending institution might not reject a loan or other monetary assistance for the purpose of buying, building, enhancing, repairing, or maintaining a residence on any of the forbidden bases kept in mind above. FHAct likewise makes it unlawful for a lender to use a prohibited basis to discriminate in setting the terms or conditions of credit, such as the loan amount, rates of interest, or period of the loan on a forbidden basis.

Furthermore, a lending institution might not reveal, orally or in writing, a preference based on any prohibited factors or suggest that it will deal with candidates in a different way on a restricted basis, even if the loan provider did not act upon that declaration. An infraction may still exist even if a loan provider dealt with applicants similarly.

In addition, due to the fact that domestic real estate-related deals consist of any deals secured by domestic property, FHAct's prohibitions (and regulative requirements in certain areas, such as marketing) use to home equity lines of credit along with to home purchase and refinancing loans. These prohibitions also apply to the selling, brokering, or appraising of residential genuine residential or commercial property and to secondary mortgage market activities. Consequently, a cooperative credit union's policies, treatments and practices including housing finance should be broadly examined to make sure that the cooperative credit union does not otherwise make unavailable or reject housing.

Sexual Preference and Gender Identity

Although FHAct does not expressly forbid discrimination based on sexual preference or gender identity, HUD resolved gay, lesbian, bisexual, and transgender (LGBT) housing discrimination by issuing the Equal Access to Housing in HUD Programs No Matter Sexual Orientation or Gender Identity Rule (Equal Access Rule, 77 Fed. Reg. 5662, Feb. 3, 2012). The Equal Access Rule uses to housing helped or insured by HUD, therefore affecting Federal Housing Administration-approved lending institutions and others getting involved in HUD programs. Specifically, a decision of eligibility for housing that is assisted by HUD or based on a mortgage insured by the Federal Housing Administration shall be made in accordance with the eligibility requirements attended to such program by HUD, and such housing will be offered without regard to real or perceived sexual preference, gender identity, or marital status. (24 CFR § § 5.100 and 5.105( a)( 2 )). The Equal Access Rule ended up being effective on March 5, 2012.

Fair Housing Act (FHAct, 42 U.S.C. § 3601) can be discovered here

HUD's Regulations (24 CFR Part 100) can be discovered here

For Equal Access to Housing in HUD Programs Despite Sexual Orientation and Gender Identity (Equal Access Rule) can be discovered here

NCUA Rules and Regulations 12 CFR § 701.31 can be found here

Definitions used in:

- FHAct (42 U.S.C. § 3602) can be discovered here.
HUD Regulations (24 CFR § 100.20) can be found here.
Subpart A - Generally Applicable Definitions and Requirements